Pizza Hut across the street from another Pizza Hut?

I find this strange. On Sepulveda Blvd. in Manhattan Beach, California there is a Pizza Hut across the street from a long-time Taco Bell place. A while back they also put a Pizza Hut sign on the Taco Bell, so there is a actually a Pizza Hut across the street from a Pizza Hut. Are these places franchises? I would think the first PH guy couldn't possible be too thrilled. Anybody see any other examples like this (any chain)? Or better yet, does anybody have an explanation?

More than once, I've seen Waffle House locations on both sides of an interstate exit. A guess is that it might be more cost effective to have two separate locations to meet the demand vs. expanding one, considering they all they tend to be of a uniform size.

A lot of Taco Bells converted to Taco Bell / KFC / Pizza Hut stores. Typically, their pizza offerings are not nearly as much as those at free standing Pizza Hut restaurants, and they focus on pizza by the slice.

One is fast food pizza (probably w/o delivery), the other is a classic sitdown pizza joint. They probably don't compete with each other that much; you don't go into a Pizza Hut for a quick slice.